瓶片：地缘抬高成本，短期偏强20260305：短纤：地缘抬高成本，短期偏强20260305

Report Industry Investment Rating - The report does not provide an industry investment rating. Core View - Due to the impact of geopolitical conflicts, the costs of short - fiber and bottle - chip are elevated, and their prices are expected to be strong in the short term [1][2] Summary by Relevant Catalogs Fundamental Tracking Short - Fiber - Futures prices of short - fiber contracts (2604, 2605, 2606) all increased compared to the previous day, with increases of 80, 88, and 164 respectively. The spreads between contracts (PF04 - 05, PF05 - 06) decreased by 8 and 76 respectively. The主力基差 increased by 65, the主力持仓 volume increased by 89461, the主力 trading volume increased by 351, the East China spot price increased by 145, and the production - sales ratio decreased by 37% to 52% [1] Bottle - Chip - Futures prices of bottle - chip contracts (2604, 2605, 2606) all increased compared to the previous day, with increases of 90, 88, and 78 respectively. The spreads between contracts (PR04 - 05, PR05 - 06) changed by 2 and 10 respectively. The主力基差 increased by 77, the主力持仓 volume decreased by 725, the主力 trading volume increased by 5410, the East China spot price increased by 155, and the South China spot price increased by 140 [1] Spot News Short - Fiber - Short - fiber futures continued to rise. Affected by geopolitical conflicts, oil prices and polyester raw materials further increased, and direct - spun polyester staple fibers followed suit. Spot prices in Fujian rose by 100 - 200 yuan/ton, and the mainstream negotiation price of traders and futures - cash merchants rose to the 6950 - 7200 range. Downstream buyers became more cautious at high prices, and the trading volume declined. The average production - sales ratio was 52% as of 3:00 pm, and prices of pure polyester yarn and polyester - cotton yarn continued to rise by 100 - 200 yuan, but high - price transactions were difficult [1] Bottle - Chip - Upstream raw material futures continued to rise, and some polyester bottle - chip factories raised their quotes by 100 - 200 yuan, while some factories did not quote. The trading atmosphere in the polyester bottle - chip market declined, but the transaction center continued to rise. Orders from March to May were mostly transacted at 6650 - 6750 yuan/ton ex - factory, with some slightly lower at 6600 - 6640 yuan/ton ex - factory and a small amount slightly higher at 6780 - 6900 yuan/ton ex - factory [2] Trend Intensity - The trend intensity of short - fiber and bottle - chip is 1, indicating a relatively strong trend for both on the day of the report (only referring to the price fluctuations of the day - session main contracts) [2]